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The Japanese shipping firm revealed this in its results report on Wednesday.
This is one more LNG carrier than in the previous quarter and ten more LNG carriers than in the first quarter of 2024.
MOL said in the previous quarter that it expects to have 108 LNG carriers in its fleet by the end of March 2025.
Brokers recently reported that MOL sold its 2004-built 137,500-cbm steam LNG carrier, Dukhan, for scrap.
According to the new report, MOL expects its LNG carrier fleet to expand to 108 vessels by March 2026.
MOL’s fleet includes LNG carriers owned and/or operated by joint venture companies.
Also, MOL previously said it had about 30 LNG carriers on order.
As of March 31, 2025, MOL’s fleet included seven FSUs/FSRUs, three LNG bunkering vessels, one LNG powership, and six ethane carriers.
As part of its plans to reduce emissions, MOL has also set a target to operate 90 LNG-powered and methanol-fueled vessels by 2030.
LNG earnings “stable”
MOL reported revenue of 1,775.4 billion yen in fiscal 2024, up from 1,627.9 billion yen in fiscal 2023, while operating profit of 150.8 billion yen rose from 103.1 billion yen.
The company’s energy business, which includes the liquefied gas segment, reported revenue of 571.5 billion yen and profit of 103.6 billion yen, both up compared to the year before.
MOL said its LNG carrier business “secured stable profits due to the existing long-term charter contracts and the delivery of the newbuildings.”
The LNG infrastructure business reported increased profit year-on-year due to the stable operation of existing projects, MOL said.
Looking ahead, MOL said “stable” profits are projected through existing long-term charter contracts and the commencement of operations of new LNG vessels to be delivered in this fiscal year.
